1. Field of the Disclosure
The present disclosure relates to a method and a system for sales strategy optimization based on spend behavior. In particular, the present disclosure relates to a method and a system for identifying payment card holder preference for certain sales techniques through the generation of predictive payment card holder profiles that are based upon purchasing and payment activity information attributable to the payment card holders and merchant information, and the correlation of the predictive payment card holder profiles with sales technique information to identify payment card holder preferences for certain sales techniques.
2. Description of the Related Art
A variety of difficulties, inconveniences, and/or inefficiencies may be encountered in conjunction with transactions involving goods and services between merchants and customers. For example, it can be cumbersome and time consuming for the customer to arrive at a section of the store (e.g., the lumber aisle, the flooring aisle, the plumbing aisle) where the items the customer desires (e.g., plywood, ceramic flooring, bathroom plumbing fixtures) are located, and to find a sales person to help with questions, and to interact with the sales person to complete a purchase of the desired items. From the perspective of the merchant, it may be desirable to make the task of shopping more efficient, convenient, and satisfying for the customer. It may also be desirable to increase sales by improving interaction with sales persons, by using appropriate sales techniques, by presenting customers with an increased number of choices in specific areas, and otherwise by reducing the impact and/or occurrence of undesirable events.
Although it is a goal of most or all merchants to improve the customer's shopping experience, several aspects of the traditional shopping process may detract from this goal. For example, once a customer has arrived at the merchant's facility, the customer may be put off by the sales tactics used by the sales person. Other inefficiencies in dealing with the sales person may also detract from this goal.
As an example, a customer is in an electronics superstore and is looking at TVs. A sales person approaches and immediately begins a high pressure sales pitch with the obvious intent to complete a sale as quickly as possible. However, the customer can be totally put off by this high pressure type of sales approach. Because of the sales approach, the customer may decide not to complete a purchase for a TV, or may even decide to leave the store immediately to get away from the aggressive sales person. This leads to an unproductive shopping experience, a waste of the customer's time, lowered customer loyalty, and from the merchant's point of view is a waste of the value that an expert sales person brings to the brick and mortar shopping experience versus buying something online.
Different people have different buying motivations and they need to be approached in different ways. It is desirable that sales techniques be optimized based on customer preferences. For example, some customers respond to sales approaches stressing savings or value while others are more interested in emerging technologies, status displays, or quality of goods.
A system and/or method for facilitating a transaction, e.g., shopping experience, between a merchant and a customer, by employing sales techniques consistent with customer preferences, would be very advantageous to the customer. It could also offer advantages to merchants by allowing store management to be able to apply specific sales techniques to specific customers, leading to a more desirable shopping experience for customers and greater customer loyalty.
A need exists for a system that can identify sales techniques that are consistent with customer preferences. A more holistic view of a consumer's personal circumstances, including merchant sales technique preferences, is needed for a more desirable shopping experience for customers. Further, a need exists for a system that can analyze a customer's personal circumstances and preferences, and identify customer activities and circumstances that can represent an opportunity for a merchant to provide a more desirable shopping experience for customers.